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Gold

To virgin minds, which yet their native whiteness hold,
Not yet discoloured with the love of gold
(That jaundice of the soul,
Which makes it look so gilded and so foul)
~ Abraham Cowley

"REMEMBER THE GOLDEN RULE!"
"WHAT'S THAT?"
"WHOEVER HAS THE GOLD, MAKES THE RULES!"

Gold is a chemical element with the symbol Au (from Latin: aurum "gold") and an atomic number of 79. Gold is a dense, soft, shiny metal and the most malleable and ductile metal known. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. It has been a valuable and highly sought-after precious metal for coinage, jewelry, and other arts since long before the beginning of recorded history.

But still less should the gold of rich men lazily sleep its heavy sleep in the urns and gloom of treasuries. This so weighty metal, when it becomes the associate of a fancy, assumes the most active virtues of the mind. It has her restless nature. Its essence is to vanish. It changes into all things, without being itself changed. It raises blocks of stone, pierces mountains, opens the gates of fortresses and the most secret hearts; it enchains men; it dresses, it undresses women with an almost miraculous promptitude. It is truly the most abstract agent that exists, next to thought. But thought exchanges and envelops images only, whereas gold incites and promotes the transmutations of all real things into one another; itself remaining incorruptible, and passing untainted through all hands.

Paul Valéry, Eupalinos, or the Architect (1921), in Dialogues (Bollingen Series XLV 4/Princeton University Press, 1989), translated by William McCausland Stewart, pp. 147–8.

[A]ny article which is well known to be valued by a large and easily accessible class of persons may be taken habitually in exchange for valued commodities, although those who take it do not want it for their own use, and it does not, on its own merits, occupy such a place on their relative scale as would justify the exchange. … If there is some article of very generally recognised value which actually takes its place, as directly significant, on the scales of a great number of people, it may come to be generally accepted, without any special calculation or consideration, by people who are not thinking of any use they may have for it themselves, but are aware that it occupies a sufficiently high relative place on the scales of others to recoup them for what they give in exchange for it. As soon as this custom begins to be well established it will automatically extend and confirm itself, and the commodity in question will become a "currency" or "medium of exchange," the special characteristic of a medium of exchange being that it is accepted by a man who does not want it, or does not want it as much as what he gives for it, in order that he may exchange it for something he wants more. … Concurrently with these developments, or perhaps in advance of them, the custom will grow up of estimating the marginal significance of things in terms of the generally accepted article even when the article does not pass from hand to hand in exchanges. … The convenience of such a standardising of values is obvious. If everything is scheduled in terms of one selected commodity it is indefinitely easier than it would otherwise be to realise the terms on which alternatives are open to us; and if any man defines his marginal estimate of anything he possesses in terms of this standard commodity any other member of the community will at once know whether or not it stands higher on his own scale than on the other's, and therefore whether or not the conditions for a mutually advantageous exchange exist.

In England the functions of a standardising commodity and of a medium of exchange are both alike performed by gold. Gold is applied to a vast number of purposes in the arts and sciences, and were it more abundant it would replace other metals in many more. Consequently a great number of easily accessible persons actually give a relatively high place to gold on their scales of preference, in virtue of its direct significance to them. It is established by custom (and, so far as that is possible, by law) as the universally accepted commodity; and at the same time it is used as the common measure in terms of which our estimates of all exchangeable things may be stated.

But scarce observ'd the Knowing and the Bold,
Fall in the gen'ral Massacre of Gold;
Wide-wasting Pest! that rages unconfin'd,
And crouds with Crimes the Records of Mankind,
For Gold his Sword the Hireling Ruffian draws,
For Gold the hireling Judge distorts the laws;
Wealth heap'd on Wealth, nor truth nor Safety buys,
The Dangers gather as the Treasures rise.

How quickly nature falls into revolt
When gold becomes her object!
For this the foolish over-careful fathers
Have broke their sleep with thoughts, their brains with care,
Their bones with industry:
For this they have engrossed and pil'd up
The canker'd heaps of strange-achieved gold;
For this they have been thoughtful to invest
Their sons with arts and martial exercises.

Commerce has set the mark of selfishness,
The signet of its all-enslaving power
Upon a shining ore, and called it gold;
Before whose image bow the vulgar great,
The vainly rich, the miserable proud,
The mob of peasants, nobles, priests, and kings,
And with blind feelings reverence the power
That grinds them to the dust of misery.
But in the temple of their hireling hearts
Gold is a living god, and rules in scorn
All earthly things but virtue.